Highlights
- The Company has extended the closing date of its Share Purchase Plan Offer
- The SPP will now close on Wednesday, 18 June 2025, 5:00pm (Sydney time)
- BluGlass has secured additional institutional shortfall commitments of $1.5 million
Global semiconductor developer BluGlass Limited (ASX: BLG) has extended the closing date for its Share Purchase Plan (SPP) Offer to Wednesday, 18 June 2025, to accommodate additional institutional short-fall commitments. A revised timetable is set out below.
The Company has secured a further $1.5 million in institutional commitments, over and above the $3.0 million announced to the market on 1 May 20251. The extension of the SPP Closing Date is to ensure all eligible shareholders have sufficient time to participate. An updated Appendix 3B will be released to ASX today.
Funds will accelerate production and delivery of BluGlass’ visible gallium nitride (GaN) lasers, fulfilling new and existing contracts, as well as support additional fab equipment and working capital. BluGlass has a
robust pipeline with 26 active projects in various stages of negotiation, collectively valued at US$90-$100 million.
The SPP entitles eligible shareholders to purchase up to $100,000 worth of fully paid ordinary shares (Shares) in BLG at an issue price at the lower of $0.013 or a 2.5% discount to the 5-day VWAP as announced on 1 May 2025. Unless otherwise stated in this release, defined terms have the same meaning as in the Prospectus.
Further details are outlined in the Prospectus, which should be read in full before determining whether to subscribe for Shares under the SPP Offer. The revised timetable for completion of the SPP is as follows:
Indicative Timetable for the SPP* (with changed dates highlighted in bold text).
| Event | Date |
| Record Date | 30 April 2025 |
| Lodgement of Prospectus and TMD with ASIC | 1 May 2025 |
| Lodgement of Appendix 3B, Announcement and Prospectus, and TMD with ASX | 1 May 2025 |
| Offer opens | 8 May 2025 |
| Issue of Notice of Meeting | 15 May 2025 |
| General Meeting held | 13 June 2025 |
| Offer closes** | 18 June 2025 |
| Issue of New Shares | 20 June 2025 |
| Issue and allotment of New Options | 20 June 2025 |
| Expected date of despatch of Holding Statements for New Shares | 24 June 2025 |
| Expected date of despatch of Holding Statements for New Options | 24 June 2025 |
| Expected date of Quotation of New Shares | 26 June 2025 |
| Expected date of Quotation of New Options | 26 June 2025 |
| Last Date to exercise New Options | 31 May 2026 |
| Last Date for Issue of Shares following exercise of New Options | 2 June 2026 |
| Issue and Allotment Date of Piggyback Options following exercise of New Options | 2 June 2026
|
| Expected date of despatch of Holding statements for Shares and Piggyback Options issued on exercise of New Options | 4 June 2026 |
*All dates and times are indicative only and subject to change. BLG reserves the right to amend these dates and times subject to the Corporations Act, the Listing Rules, and other applicable laws. In particular, BLG reserves the right to extend the Closing Date for the SPP, to accept late Applications under the SPP (either generally or in particular cases) or to withdraw the SPP without prior notice. Any extension of the closing date of the SPP will have a consequential effect on the allotment date of the Shares under the SPP.
** Subscribers under the SPP should ensure that they have lodged their Application Form and subscription funds by this date.
- BluGlass announcement titled BluGlass secures $2.3M Placement, Launches SPP dated 1 May 2025 https://bluglass.com/bluglass-completes-2-3m-placement-launches-spp/
